SEJONG, South Korea, March 14 (Korea Bizwire) — South Korea’s economy is increasingly influenced by domestic factors rather than global conditions, signaling a shift toward self-driven growth and stability, according to a new report from the Korea Institute for International Economic Policy (KIEP). The study, released on Thursday by KIEP’s International Macroeconomics and Finance Division, [...]
SEOUL, March 14 (Korea Bizwire) — The chief of the South Korean central bank warned Friday the current level of ultra-low birth rate will cause South Korea to log negative economic growth after 2050, calling for measures to ease intense competition and burdens regarding employment, housing and child care. The Bank of Korea (BOK) Gov. [...]
SEJONG, March 10 (Korea Bizwire) — Financial authorities in South Korea have announced new measures to encourage domestic investment and support the won’s value, including raising the mandatory domestic stock investment ratio for specialized Individual Savings Accounts (ISA) and lifting restrictions on won-denominated “Kimchi bonds”. The Ministry of Economy and Finance, Financial Services Commission, Bank of [...]
SEOUL, March 7 (Korea Bizwire) — Amid a prolonged economic downturn, a vast majority of South Korean businesses anticipate a financial crisis in 2025, according to a new survey by the Korea Employers Federation (KEF). The survey, conducted in January among 508 domestic companies with at least 50 employees, revealed that 96.9% of respondents expect an [...]
SEOUL, March 6 (Korea Bizwire) — Nearly 1 in 3 large companies in South Korea have reported a deterioration in their financial conditions this year compared with 2024, a survey released Thursday showed. The survey conducted by Mono Research on the country’s top 1,000 firms in terms of sales found that 31 percent of the [...]
SEOUL, March 5 (Korea Bizwire) — South Korea’s economy grew 2 percent last year, matching an earlier estimate, amid slowing export growth, sagging domestic demand and a political crisis, central bank data showed Wednesday. The country’s real gross domestic product (GDP) — a key measure of economic growth — increased 2 percent last year, in [...]
SEOUL, Feb. 27 (Korea Bizwire) — As South Korea’s prolonged economic downturn continues, small business owners are increasingly burdened by rising labor costs. A recent analysis shows that small independent business operators employ an average of 1.8 workers per establishment, highlighting the strain on entrepreneurs trying to sustain their workforce. According to data from the [...]
SEJONG, Feb. 25 (Korea Bizwire) — South Korea’s construction industry is facing its worst downturn in years, with employment falling below 2 million workers for the first time since the Covid-19 pandemic, highlighting growing concerns about the broader economic impact of the sector’s prolonged slump. According to the Statistics Korea, construction employment plunged by 169,000 jobs [...]
SEOUL, Feb. 25 (Korea Bizwire) — Small business owners in South Korea saw their income drop more than 10 percent from a year earlier in 2024 amid sluggish consumer sentiment, a poll showed Tuesday. According to the survey conducted by Mono Research from January 20 to February 7 on 500 small business owners, the level [...]
SEOUL, Feb. 21 (Korea Bizwire) — Despite a prolonged economic downturn and high interest rates, several prominent South Korean mid-sized companies are actively pursuing major mergers and acquisitions, highlighting a shift in corporate strategy. The number of completed M&A deals valued at over 10 billion won in South Korea reached 474 in 2024, marking a 12% [...]